HUD: Public Comments Sought on Potential Changes to Regulation Requiring Accessibilty and Prohibiting Discrimination on the Basis of Disability in HUD-Assisted Programs
Today, the U.S. Department of Housing and Urban Development (HUD) published an Advance Notice of Proposed Rulemaking (ANPRM) in the Federal Register. HUD is considering revising the Section 504 of the Rehabilitation Act of 1973 (Section 504) implementing regulation at 24 C.F.R. part 8 and requests public comment to assist HUD in considering potential revisions. Section 504…
FHFA: Notice of Proposed Rulemaking on Fair Lending Oversight Issued
Today, the Federal Housing Finance Agency (FHFA) announced that it is seeking comment on a proposed rule that would formalize many of the Agency’s existing practices and programs regarding fair housing and fair lending oversight of its regulated entities. Specifically, the proposed rule would codify in regulation: FHFA’s fair lending oversight requirements for Fannie Mae…
OCC: FFIEC’s 2023 “A Guide to HMDA Reporting: Getting It Right!” Released
The Office of the Comptroller of the Currency (OCC) is announcing the issuance of the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting It Right!” (2023 guide). The 2023 guide provides resources to help banks1 comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, its implementing regulation (12 CFR…
SBA: Rules Implemented to Address Persistent Capital Access Gaps
Loan program updates will advance equity for rural, veteran, women, and minority-owned businesses The U.S. Small Business Administration has finalized two rules to address persistent gaps in access to capital impacting small business owners in underserved communities as part of the Biden-Harris Administration’s effort to grow the economy from the middle out and bottom-up, not…
FHFA: Final Rule Announced Amending the Enterprise Duty to Serve Underserved Markets Regulation
Enterprise activities in all colonia census tracts are eligible for Duty to Serve credit The Federal Housing Finance Agency (FHFA) today published a final rule to amend the Enterprise Duty to Serve Underserved Markets regulation. The final rule allows Fannie Mae and Freddie Mac’s (together, the Enterprises) activities in all colonia census tracts to be…
HUD: Public Comment Period Extended by Two Weeks for the Affirmatively Furthering Fair Housing Proposed Rule
The U.S. Department of Housing and Urban Development (HUD) is announcing that it will extend the public comment date for its Affirmatively Furthering Fair Housing proposed rule by 14 days, to April 24, 2023. To do this, HUD has submitted a notice to the Federal Register, which can be found here. HUD published its Notice of Proposed…
CFPB: Final Rule Issued to Create New Data Set on Small Business Lending Under Section 1071 Requirements
Rule will fulfill congressional mandate and shine light on key engine of American economy The Consumer Financial Protection Bureau (CFPB) has finalized a rule required by Congress to increase transparency in small business lending, promote economic development, and combat unlawful discrimination. Lenders will collect and report information about the small business credit applications they receive,…
ABA: Statement on CFPB Small Business Data Collection Rule Released
“America’s banks oppose discrimination in any form and support enforcement of fair lending laws and the goals of Section 1071. Banks of all sizes have a long history of lending to creditworthy small businesses across the country, and ABA supports bank efforts to lend to underserved small businesses. “While today’s final rule implementing Section 1071 includes a…
SBA: Statement on the CFPB Action to Finalize Section 1071 Rule
Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s 33 million small businesses, issued the following statement on the Consumer Financial Protection Bureau (CFPB)finalizing Section 1071, a rule that aims to increase transparency in small business lending, promote economic development, and combat unlawful discrimination: “The CFPB’s important work to advance transparency and improve data collection in small business lending enables the…
HUD: “Discriminatory Effects” Rule Restored
Department to rescind 2020 Fair Housing Act rule and restore 2013 policy to eradicate discriminatory practices from housing market Today, the U.S. Department of Housing and Urban Development (HUD) announced that it has submitted to the Federal Register for publication a Final Rule entitled Restoring HUD’s Discriminatory Effects Standard. The Final Rule rescinds the Department’s 2020…